Company Overview
Providence Real Estate Group, Inc. emerged in 2016 from a family owned real estate and construction business of over 40 years. Providence is a vertically integrated company that provides acquisition, asset and property management, as well as construction management services to our investors. Our construction experience empowers Providence to enhance and value engineer projects in our portfolio as well as potential acquisition targets. Using our construction experience, Providence has developed a conservative risk management approach which protects assets for long term capital preservation.
Providence currently manages an office and flex/industrial portfolio in excess of $165,000,000 and 650,000 square feet which was purchased over the last 10 years. We maintain extensive broker relationships which have allowed Providence affiliates to source over $100,000,000 of asset purchases through off market transactions over the last 5 years.
Investment Strategy
Providence’s investment focus is best defined through a disciplined core-plus and value-add strategy. We leverage long standing relationships and project inefficiencies to enhance returns as operators of real estate assets. We focus on high barrier to entry markets with minimal new construction due to regulatory or financial obstacles, as well as those that suffer from institutional apathy.
Providence seeks assets in markets where we can build scale and positively influence the market, along with projects in economically vibrant tier 2 cities which provide operational stability. Our primary target markets consist of Southern California and Arizona. In our pursuit of core plus and value-add assets, Providence seeks opportunities that are; event driven, i.e. assets that are undervalued due to a certain event such as investor mismanagement allowing for the increase in cashflows through light improvements, management efficiencies or by increasing the quality of tenants; an exclusive angle, i.e. assets that we are able to source off-market; true value-add potential assets that present a clear path to enhanced risk adjusted returns.
Providence’s preferred transaction size is $15-80 million.
Providence maintains a vertically integrated investment management company that allows us to respond quickly to market opportunities. Our in-house construction and engineering team provides all levels of building renovations, maintenance and tenant improvements.